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Employers make contributions to an employee's pension fund based on a percentage of the employee's earnings. The amount of pay that pension contributions are calculated on is called pensionable earnings. Pensionable earnings can be calculated in different ways.
The minimum service period required to qualify for VRS pension scheme is 20 years. In order to be eligible for voluntary retirement pension, employees has to give notice of not less than three months in writing to the appointing authority; seeking voluntary retirement.
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